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We’re committed to Golden Star acquisition expectations – Chifeng Gold President

Chifeng Jilong Gold Mining Company, the new owner of Golden Star Wassa Mine, has assured workers, communities and other stakeholders of its commitment to the acquisition responsibilities.

Chifeng Jilong Gold Mining Company, the new owner of Golden Star Wassa Mine, has assured workers, communities and other stakeholders of its commitment to the acquisition responsibilities.

The President and Chairman of Chifeng Jilong Gold Mining Company, Wang Jianhua, in his first visit to the mine, said Chifeng is very much aware and committed to the 28th February 2022, takeover expectations.

“I’m always of the view that the mining operation does not only belong to the investor but belongs to everyone including the workers, communities within its catchment and all other stakeholders. This is because we are together in this, and we can only do better together. We are here to solve these problems, and you know we can’t do this without you.”

“I share the view of Nananoom that the mine operation must benefit the people. Chifeng Gold as a company aspires to benefit more people as we grow, and we want to do more to realize this goal. We believe that action speaks louder than words, so we are here to take action in this direction…I did that in another mine and want to follow the protocol or success model elsewhere in this mine“, he said when he interacted with the chiefs and people of Wassa as well as workers of the mine.

Investment

Speaking on investment plans of the Wassa Mine, the Chairman and President of Chifeng told Citi News his outfit will increase its investment in the mine.

“We commit to continue to make investments in the mine, and we have our team doing the exploration and development planning, so we will have this plan and mine schedule as a base for us to make investment. How much we will invest will depend on the work the team does, taking into account the communities, sustainability, environment and the benefits to stakeholders. We are supportive of whatever the team comes up with. So we will not stop the investment because of difficulties.”

“One thing I can assure is that we want to be here for good, grow with the communities and stakeholders, therefore our investment would be long-lasting. We are not looking at just profitable returns of investment, but the overall returns of our presence in this country. We commit to developing world-class mine which would not be achieved within the shortest possible time but over time. Not only the investment from the Chifeng that will make this achievable, but the support from the local communities, government officials and regulatory bodies”, he mentioned.

Challenges

Reacting to anticipated challenges with the acquisition, President Wang Jianhua said Chifeng does not expect things to be easy, despite being optimistic about the prospects of the Wassa Mine.

“We made this acquisition of the Wassa Mine knowing that the previous investor encountered some difficulties, and so we don’t expect it to be easy operating this mine. However, the difference between us and the previous shareholder is that Chifeng is a mining company. We are a mining company with over seven other mines around the world. So we are experienced in the situation where we have encountered this kind of difficulties many times before, and we believe we can make some difference after coming here”, he noted.

Law

President Wang Jianhua however, expressed Chifeng’s corporate responsibility to rules and regulations wherever it operates.

“Chifeng is a responsible company, and we fully respect the local regulations and laws as well as the international market practice. So we will keep our promise of commitment to the agreed severance following our acquisition agreements“, he indicated.

Investment benefits

The Golden Star Managing Director and VP Support Services, Shaddrack Sowah, said the community interaction with the highest hierarchy of the mine owners is good for the success of the mine.

“This interaction with locals is another important step to give practical meaning to the commitment and collaboration that Golden Star has for its stakeholders. Following from the acquisition of Golden Star Resources by Chifeng Gold, the Wassa Mine now has access to adequate financial capital to realize its growth potential to extend the life of the assets both underground and surface resources.”

“Therefore we have started engaging the Chiefs and regulatory institutions on our plans to commence mining at the 242, the dead-mine-hill, the Benso and the Mporho properties. These expansions will result in the following benefits, thus job security for employees which comes with the extension of the mine life, opportunity to learn new things, increase employment opportunities for local communities, improvement of local corporate social responsibility projects and economy as well as continuous payment of royalties“, he said.

Community reactions

The District Chief Executive of Mpohor, Ignatius Asaah Mensah and the Paramount Chief of Mpohor Traditional Area, Osaberema Kwaw Entsie ll, together with the Member of Parliament of Mpohor, John Kobina A. Sanie while welcoming the President and Chairman of Chifeng Jilong Gold Mining Group to the Wassa Mine assured of their cooperation for the mine’s success but challenged Chifeng to fulfil all promises made in accordance with the acquisition expectations for a win-win relationship.

Golden Star Resources’ Wassa mine concession was sold to Chifeng Jilog Gold Company, a Chinese mining firm, after a deal was reached on Friday, January 28, 2022.

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Source: citinewsroom.com

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